Private pension under 45 years old

Under 45 years old

Small changes today
may make a huge difference


It’s never too early to start your retirement planning, and if you’re under 45 years old, the chances are you’ll already have a couple of small pension pots from your past employers. As your personal circumstances change, your future plans may alter, so it’s important to make sure that your pension policies are working as hard as possible.


Private pension under 45 years old

Considerations at this age

The earlier you start saving into your pension, the easier it is to achieve your desired future lifestyle. Although retirement may seem a long time away, paying in smaller amounts over a longer period makes it easier to enjoy your lifestyle and plan for the future.

Pension policy service charges can differ between policy providers. Older policies can be inflexible, and we’ve seen annual charges in the region of 5.3% which can affect the value of your pension. A regular Pension HealthCheck may be able to reduce your service fees and increase the value of your pension.

The longer you have to build up your pension pot, the more adventurous investment strategy you could implement. While a bold approach is not suitable for everyone, potentially, more adventurous investments offer greater returns into your pension funds, but they also run the risk of losing value. As retirement may be a long time away, you may want to consider a more adventurous strategy for a longer-term approach, allowing you to potentially recover any short-term losses.

Take action

As you progress through your working career, your life stage can have a profound effect on your future retirement and pension provision. Generally, people’s plans and attitudes change as they get older and your pension policy should reflect this.

Planning for your retirement earlier can help you achieve your desired future lifestyle. Pension Works will deliver an outlook on what you could expect from your current policy(s) and if there are suitable alternative pension policies that could improve this.


Family under 45 years old

How can
Pension Works
help you?

As you progress through your career it’s likely, as part of your salary package, that you and your employer would have contributed to a workplace pension. Pension Works can assess your current policies, delivering advice on how they are performing and if necessary, offer alternative options for your consideration.

As impartial, independent financial advisers, Pension Works will complete a full Fact Find including an attitude to risk profile regarding your current and future retirement plans. We do this to understand your retirement goals and provide an independent report to you. This Fact Find may help with your current financial planning as well as your pension provision.


Peace of mind

We work with all major UK pension providers, allowing us to find the pension that helps you meet your retirement goals and ensures your retirement is in experienced hands.

How can we help?

Check your pension’s performance

We provide a personal pension assessment service that will deliver a thorough report on the performance of your pensions. The comprehensive report will include the pension provider management fees you are paying, the security of your fund and advise whether there are more suitable pensions available to you.

Consolidating your pensions

If you have several private pensions or old workplace pensions, it may be advisable to combine your pension funds into one, more manageable pension scheme (called Pension Consolidation). By combining your pension pots, you may also benefit from lower management fees, better performance, and less paperwork.